Insurance companies in several flood-hit provinces and regions in China have received a cumulative number of 95,000 claims involving a combined total of CNY3.21bn ($442m) in claim amounts.
QBE Insurance, one of the world's top 20 general insurance and reinsurance companies, is focused on improving its claims support for customers amid recent severe weather events, drawing from insights gained following the 2022 east coast floods.
The agency channel in Cambodia is generating more premiums as insurers try to reduce their dependence on the bancassurance channel.
Thailand's Finance Minister Pichai Chunhavajira has ordered the revocation of the licence of Syn Mun Kong Insurance Public Company Limited, once a major non-life insurance provider in the country. The order took effect on 4 July 2024.
The Indian government is likely to introduce a Bill seeking amendments to the Insurance Act, 1938, during the Budget session set to begin on 23 July.
The population of India is expected to remain the world's largest throughout this century, according to the the latest edition of the official United Nations population estimates and projection report.
Uganda's insurance industry registered robust growth rate in 2023 on the back of enhanced insurance customer confidence, improved distribution channels, and growth in online transactions, says the Insurance Regulatory Authority of Uganda (IRA) in a statement.
Insurance companies in China continued to shutter branches and marketing outlets In the first half of the year, according to data from the National Financial Regulatory Administration (NFRA).
General insurers reduced their exposure to crop insurance under the government-backed Pradhan Mantri Fasal Bima Yojana (PMFBY) during FY24 despite the government's push to expand the coverage of the crop insurance scheme.
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) yesterday published new information to help insurers and superannuation trustees prepare for the commencement of the Financial Accountability Regime (FAR).